York County, PA Realtors

All of a sudden, you're $8,000 closer to
buying the American Dream.

A tax credit of up to $8,000 is available for qualified first-time home buyers purchasing a principal residence on or after January 1, 2009 and before April 30, 2010.

Uncle Sam just made it easier to buy foreclosures by allowing first-time homebuyers to use an $8,000 tax credit for a down payment or other closing costs.
Best of all, the $8,000 doesn't have to be repaid.
That's an offer you can't refuse. Even in a sputtering economy, the $8,000 tax credit, historically low interest rates and plenty of bargain foreclosure inventory can make your home buying experience a reality.

~Update Nov 2009~

Home Buyer Tax Credit Changes at a Glance:

When the President signs the bill, the expiration date for the credit will move to April 30, 2010.

• First-time buyers who have not had interest in a principle residence for three years are still eligible, and the maximum amount remains the same – $8,000 for married couples, $4,000 for those filing separately.
• Current homeowners, who have consecutively maintained the home they want to sell as their primary residence for five of the last eight years, are also eligible. However, the maximum amount for those homeowners is lower: $6,500 for married couples and $3,200 for those filing separately.
• The tax credit may not used to purchase a home for more than $800,000. All buyers who want to get the credit must include documentation of the purchase on their tax returns.

The information on this page pertains to the American Recovery and Reinvestment Act of 2009.

• The tax credit is for first-time home buyers and current homeowners now.
• The tax credit does not have to be repaid.
• The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $8,000 for new homebuyers and $6,500 for current homeowners.
• The credit is available for homes purchased on or after January 1, 2009 and before April 30, 2010.
• Single taxpayers with incomes up to $125,000 and married couples with incomes up to $225,000 qualify for the full tax credit.

How it works?

• Receive a tax credit when you file your 2009 tax returns of 10% of the sales price of your home (maximum tax credit of $8,000)
• Tax credit  does not have to be repaid as long as you own the home for at least 3 years.
• Earn your tax savings during your first year of home ownership

For more information about the $8,000 tax credit, please fill out the short form below. You will be put in touch with a Buyer specialist who can also tell you about our informative homebuyer seminars and help you get started on your way to homeownership. We will include a Free Report of all the Homebuyer Tax Credit Changes that will be sent when you fill out the form.